Wayfair price target raised to $120 from $90 at Guggenheim

Guggenheim analyst Steven Forbes raised the firm’s price target on Wayfair (W) to $120 from $90 and keeps a Buy rating on the shares after Q3 operating results broadly exceeded the firm’s expectations. The firm, which views the Q3 performance as “a break-through” ahead of industry normalization potential, also remains “encouraged” by management’s propensity to drive technological enhancement.